Top 20 Equity Options Traded

in October 2023

November 2, 2023

Many were hoping for an October rebound after markets declined the two months prior.  However, the Halloween rally was not enough to erase losses earlier in the month as the Dow fell 1.4%.  The Nasdaq Composite was down by 2.8% in October and the S&P was off by 2.2%.

October markets contemplated inflation, interest rates and a 2024 recession on the economic front.  Domestically, we saw dysfunction in the US Congress as Kevin McCarthy lost his speaker role to Mike Johnson.  More concerning is the escalating Israel-Hamas conflict that has the potential for contagion with global markets.  Although we now know that The Fed paused interest rate increase on November 1, they are leaving the door open for future increases.

Below is a chart comparing ETF performance based on the Dow, Nasdaq and S&P for the month of October 2023. 

October saw big tech rearranging the deck chairs from prior months on the upper half of the top 20 list.  We see some interesting new entrants this month with Rivian Auto, VinFast Auto & Delta Airlines   We continue to be concentrated with top 4 symbols accounting for 50% of all transactions in the month.

Below are the most active 20 equity symbols based on the number of option trades in eOption accounts in October 2023.  Note that we do not make trade recommendation and are sharing this for your interest.

  1. Tesla (TSLA)
  2. Nvidia (NVDA)
  3. Amazon (AMZN)
  4. Meta Platforms (META)
  5. Netflix (NFLX)
  6. Advanced Micro Devices (AMD)
  7. Boeing (BA)
  8. Microsoft (MSFT)
  9. Apple (AAPL)
  10. Alphabet (GOOGL)
  11. Carnival (CCL)
  12. Roku (ROKU)
  13. Palantir (PLTR)
  14. Marathon Digital (MARA)
  15. Rivian Automotive (RIVN)
  16. VinFast Auto (VFS)
  17. Bank of America (BAC)
  18. Costco Wholesale (COST)
  19. Delta Airlines (DAL)
  20. SoFi Technologies (SOFI)

What will happen in November?  Does the pull-back from the last 3 months create a buying opportunity?  Or, will the slide continue?  Whatever the direction, volatility will create opportunity.

Stay informed and trade well.

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This information provided for general informational purposes only and should not be considered recommendations or advice by eOption. Past performance is not indicative of future results.

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